Company Liquidators in Brinkworthfor Brinkworth

A licensed insolvency practitioner takes control of the company, realises assets, investigates director conduct, and distributes funds to creditors in the correct statutory order. They also ensure the company is struck off the register after the liquidation is complete.

Costs vary depending on the complexity of the case, asset values, and the number of creditors. A licensed professional will provide a fixed fee or an estimate based on your specific circumstances. Always ask for a clear breakdown before agreeing to proceed.

A company is eligible if it is insolvent, meaning it cannot pay debts as they fall due or its liabilities exceed its assets. The directors must pass a resolution to wind up, and creditors must approve the appointment of a liquidator at a meeting.

The process typically takes between six and twelve months, but it can be longer if there are complex asset sales, legal disputes, or investigations. The liquidator must file final accounts and notify Companies House before the company is dissolved.

Yes, you can. If there are no assets to distribute to creditors, a liquidator can still be appointed to manage the process. This is often called a 'no-asset liquidation' and may involve a lower fee, but the statutory duties remain the same.

Alternatives include a company voluntary arrangement (CVA), administration, or informal arrangements with creditors. Each option has different implications for the company and its directors. A licensed professional can help you assess which route is most suitable.

Employees are made redundant when the company enters liquidation. They may be entitled to claim redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator will provide the necessary forms and guidance.

Directors are required to attend a creditors' meeting, either in person or virtually, to present the statement of affairs and answer questions. The meeting is chaired by the proposed liquidator, and creditors vote on the appointment.

In most cases, no, but personal liability can arise if there has been wrongful trading, fraudulent activity, or a personal guarantee has been given. Directors should seek advice early to avoid actions that could lead to personal responsibility.

The statement of affairs is a legal document that lists the company's assets, liabilities, and creditors. It is prepared by the directors and submitted to the liquidator. It forms the basis for the liquidation and is used to inform creditors.